Nippon India Files for BSE Sensex Next 30 Index Fund and ETF

Nippon India Mutual Fund has submitted draft documents to SEBI to launch two products: the Nippon India BSE Sensex Next 30 Index Fund and the Nippon India BSE Sensex Next 30 ETF. Both are designed to track the BSE Sensex Next 30 Index, which consists of 30 companies next in line after those in the Sensex.

Index Fund Details

The index fund will be an open-ended scheme. It will invest at least 95% of its assets in stocks that are part of the BSE Sensex Next 30 Index. Up to 5% can be held in money market instruments or cash equivalents. The goal is to replicate the index performance, subject to tracking error. Daily purchase and redemption of units will be available.

The fund will use the BSE Sensex Next 30 TRI (Total Return Index) as its benchmark. No exit load will be charged. The minimum investment during the New Fund Offer (NFO) is ₹1,000, with additional investments in multiples of ₹1. Redemptions can be made for ₹100 or the entire account balance, whichever is lower.

ETF Structure

The ETF version will allow investors to trade units on stock exchanges, offering exposure to the same index. It will also aim to mirror the returns of the BSE Sensex Next 30 Index. Details such as the launch date and allotment terms are yet to be disclosed.

Read more: Nippon India Mutual Fund Announces Scheme Merger Effective April 2025

NAV and Transaction Facilities

The Net Asset Value (NAV) will be disclosed daily by 11:00 p.m. on the AMC and AMFI websites. Special facilities like SIP, STP, SWP, and ASBA will be available for the index fund. Digital and exchange-based platforms will be enabled for transactions.

Conclusion

The schemes are currently under review by SEBI. If approved, they will add to Nippon India’s lineup of passive investment options tracking domestic equity indices.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.